Property for Auction in London - [Print Version]

Auction Date:

Wed 06/12/2023

Start Time

08:45

Property Type:

Other

The property comprises a first floor three bedroom split level maisonette situated within a semi-detached building arranged over ground and second floors.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Seven Kings Park are within easy reach. Transport links are provided by Chadwell Heath underground station (Elizabeth line).

Accommodation

First Floor Reception Room Kitchen Bedroom Bathroom Second Floor Two Bedrooms Kitchenette

Exterior

The property benefits from off street parking.

Tenancy

The property is subject to two periodic tenancies at a combined rent of £1,400 per calendar month.

Further Information

When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. In most cases, the leaseholder must have owned the property for at least 2 years in order to serve a S42 notice. If you do not fully understand this process, please ask the auctioneers or a solicitor.

Tenure

Leasehold. The property is held on a 99 year lease from 24th June 2002 (thus approximately <b>77 years unexpired</b>). At the buyer's request and costs a section 42 notice to extend the lease will be served prior to completion, the rights of which would be assigned to the incoming buyer.

Location Map